Insider trading at Playboy

Hugh Hefner; Playboy

Hugh Hefner's son-in-law forced to pay huge fine to US regulators

LAST UPDATED AT 08:24 ON Wed 12 Dec 2012

The son-in-law of Playboy founder Hugh Hefner was forced to pay $168,352 to US regulators to settle claims of insider dealing between 2004 and 2009, The Times reports. Citing documents relating to William Marovitz's divorce from Hefner's daughter Christie, the paper says he repeatedly used information gained from his wife to trade Playboy stock.

Christie Hefner, who is now chief executive of Playboy, had expressly told Marowitz not to trade in the shares but he repeatedly bought and sold in the run up to major corporate announcements, triggering an investigation by the US Securities and Exchange Commission. · 

For further concise, balanced comment and analysis on the week's news, try The Week magazine. Subscribe today and get 6 issues completely free.